ANCAP is making the call to offers for Hydrocarbon Exploration and Exploitation Contracts in the Uruguayan offshore. After the historic bid organized in, ANCAP is promoting the Uruguay Round II to the upstream industry. The formal launch event will be held in Montevideo on September 7 – 9, 2011, at the venue Radisson Montevideo Victoria Plaza Hotel.

In the event the available contract model and terms in its definitive form will be presented. After the launch event Road Shows will be held in Houston and Rio de Janeiro, during October and November 2011 respectively. The oil companies to participate in the bidding process must qualify no later than half February for presentation of offers. The opening of bids will be at the end of March 2012.

The contracts will be awarded under a Production Sharing Agreement (PSA), for which the main terms are: no royalties; no signature or production bonuses; and no surface rentals.

ANCAP is now offering to international oil companies its new 2D seismic data covering 6.300Km. The buying of this data package will account as a work unit of the exploratory program.

ANCAP will offer 15 blocks from 2.300Km2 to 12.000Km2 that covers all its promissory offshore basins. Since the end of the Uruguay Round I in 2009, the ANCAP technical staff has been working in the identification of plays, leads and prospects, in waters that range from shallow waters to ultra deep waters, with analogies to productive oil systems in the Atlantic Ocean.

Tags: ANCAP